BROKERAGE NAME GOES ON TOWER

Stanley ZiembaCHICAGO TRIBUNE

The 50-story office structure being built at 181 W. Madison St. will be named ''PaineWebber Tower'' for PaineWebber Inc., the New York-based brokerage firm.

PaineWebber said Thursday it will move its Chicago offices from Xerox Centre, 55 W. Monroe St., to 115,000 square feet in the new structure on the southeast corner of Madison and Wells Streets in late 1990.

In another transaction, ISD Inc., the fourth-largest interior design firm in the United States, has entered into one of the more unusual commercial real estate leases in downtown Chicago in recent years.

The firm, which has offices at 400 N. State St., has leased the former offices and the original trading floor of the Chicago Mercantile Exchange at 300 W. Washington St. ISD plans to relocate its 130-member Chicago staff to the 28,000-square-foot space in April.

When PaineWebber moves into the 1.1 million-square-foot building at 181 W. Madison, it will become the first New York brokerage firm to have its signature on a major Chicago office building, said J. Paul Beitler, a principal of Miglin-Beitler Inc., the Chicago-based firm developing the building.

''Since our building is in the heart of the city`s financial district, I can`t think of a better signature for it,'' he said.

PaineWebber will occupy the 39th through 45th floors of the steel and white granite structure designed by Italian architect Cesar Pelli. The firm has options for the 46th and 47th floors, Beitler said.

Construction of the 181 W. Madison building is scheduled to be completed in early 1990. More than 50 percent of the structure has been leased, Beitler said.

The 15-year lease was negotiated for PaineWebber by Draper and Kramer Inc.

ISD`s move was prompted by the need for more space, said Melvin Hamilton, a partner in the firm.

Nancy Pacher Berry of U.S. Equities Realty Inc., who negotiated the long- term lease for ISD, said the wood parquet trading floor and marble-walled office space leased by the design firm is one of ''the most stunning spaces in the city.''